How 360 Virtual Tour is changing the Real Estate industry

360 virtual tour uses in real estate

What is a 360 Virtual Tour?

The 360 Degree Virtual Tour is an immersive experience. It allows customers to view a place from the comfort of their home. This is achieved regardless of where they are in the world.

Generally, property managers provide the client with a long list of properties. The explanation and negotiations will come afterwards. Eventually, trips to houses and apartments is arranged. Over decades, this phase has been the same. But for home buyers, it’s potentially frustrating and time-consuming.

Today, 360 immersive tech and virtual photography has much improvement. With 360 photos, it creates a seamless digital tour of a real location. It can be a home, hotel, art gallery, or historical building.

Through this, it helps to increase users’ engagement and interaction. A venue that is in 360 degrees provides with a more memorable experience. 

Customers is able to view the whole scene in whichever angle any time. Regardless of location, there is always easy access to the VR content. 

Here’s a video of an example of a Real Estate 360 Virtual Tour: 

Types of 360 VR tours

Guided Tours

Guided tours are either in digital or in the form of 360-degree videos. These are considered to be a type of VR experience.

They are ideal for existing properties as they are easy to make. You only need a 360 degree panoramic camera to capture footage. A mobile device can then be used to play the 360 virtual tour. Of course, to get the most immersive experience, your customers should wear a virtual reality headset.

We have written an article dedicated to this topic. If you are interested, you can read more about it here.

Immersive Visits

Immersive visits allow the visit of areas within a property. To navigate around, users can click on special viewing hot spots. This will teleport them to the location they want to view.

It’s more difficult to create a virtual home tour. However, they’re more engaging than guided digital 3D tours. This is because you have the freedom to view properties more effectively.

 

Benefits of 360 Virtual Reality in Real Estate 

It does take a lot of time and patience to select the right property. This gets even tougher when the property is not close by. So how can virtual reality resolve this?

Well for one, VR can allow customers to view real estate online. In a way, it brings convenience to the buyer without them being there.

Long has it passed to view virtual reality on Google cardboard. With VR headset, potential clients can tour the property in virtual reality.

This could be guided tours in 360 videos or navigating immersive tours.

To elaborate further, below are 4 benefits that impacts the real estate: 

Save time

Nothing is as precious as time. Searching and visiting a new property can be a faster process thanks to VR. 

For virtual tours, there is no need to visit properties for days and hours. Both buyers and realtors can use VR headset at any time anywhere.

 

Save money

VR appears costly and hi-tech at first glance. Especially digital tours of high-res quality and commercial features. Despite that, expenses proves to be worth it in the long run.

Why is this so? That’s because agents can save quite a lot. They can do away with costly printed advertising or property staging.

Interior design and layout is viewed through a 3D environment. And the best part is, it can be reused at various locations.

 

Create an emotional commitment

Creating virtual tours provide immersion and authentic presence feeling. Unlike 2D print or web browsing, user will feel like they are actually there. There’s no rush. Only freedom for a viewer to explore and interact. 

Viewing photos or videos is nothing like going from room to room by yourself. This certainly helps to close the deal by invoking ownership sense.

 

Offering around the world

Virtual reality close distances between properties and buyers. That’s why real estate companies started to explore its uses in closing deals. What’s more, it provides a convenient way for customers to view homes.

Report shows that chances of closing overseas customers can be higher. This is because 360 virtual tours can be viewed even on web browsers.

Today, the world is more cosmopolitan. People move from one place to another, and even across hemispheres. Virtual reality can bridge the global real estate supply and demand.

 

How Virtual Reality Can Apply?

360 Virtual Tour - House Viewing

Virtual Property Showcases

Before settling, home buyers normally sourced out multiple properties. This requires a lot of time. If an estate is far from where a client lives, it becomes more inconvenient.

In this case, it can be costly and time-consuming to do property viewing.

However, VR technology helps solve these issues. It allows millions of people to visit properties remotely. This can be done without ever stepping out of their homes.

All they need to do is just to put on a VR headset. They can then experience a three-dimensional property walkthrough. Buyers or tenants can visit hundreds of locations online in minutes. They can then decide which ones are worth visiting in person.

 

Architectural Visualization

Marketing a property can be challenging for developers and agents.

You’ve likely seen miniature model of new properties. These models help potential buyers imagine the architecture and layout. However, it is expensive to produce and it is not reusable.

Real estate agencies create large showrooms with full-scale apartment designs. Such marketing strategies require large investments. Once over, it gets torn down which is quite wasteful.

Virtual reality can solve this problem effectively. It can enable home buyers to scrutinise the properties before buying.

Thanks to current VR developments, simulations are more affordable. The layout and look when property is completed can be displayed in VR. This allows buyers to clearly visualize what is being offered.

 

Virtual Staging

Just imagine the emptiness of a vacant unfurnished property. Now, imagine the same house or apartment right now. But this time, fully furnished with a cosy and appealing look. Which would be easier to sell? The answer is clear.

Statistics have proven that virtual staging is helpful to buyers. 83 percent of real estate agents agree that it helps buyers to visualize their future homes. These findings were found from the Profile of Home Staging survey. It was conducted by the National Association of Realtors.

Although staging is a great way to market property, investment is required. Especially if you sell newly built properties. On the other hand, VR can replicate such experiences with less investment. 

Virtual reality enables you to create amazing 3D tours. It is set up to do the selling to customers without agents involvement.

There is no doubt that 360 virtual tour is a great medium. Especially, for the real estate industry. It helps to visualize the house easily, speeding up the buying process. 

Interested in producing a high quality 360 VR tour after reading this article? Please feel free to drop us a message today.